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NEAR Protocol Reaches 46 Million MAUs: Solana’s Next Challenger?
- NEAR Protocol has achieved a significant milestone with 46 million MAUs in May 2025, making it the second-largest Layer-1 blockchain after Solana.
- NEAR Protocol's user-centric approach and features like account abstraction and chain signatures have contributed to its rapid development.
- The protocol's growth is also fueled by a growing ecosystem of decentralized applications (dApps), attracting a larger audience.
- NEAR's scalability is driven by Nightshade sharding technology, enabling high-performance operations while maintaining decentralization.
- Market activity for NEAR shows a rise in Open Interest, indicating increasing interest in the protocol for both investment and development purposes.
- Despite token price setbacks, with the token currently trading at $2.37, NEAR is trading below its 50- and 100-day EMAs, suggesting a bearish market trend.
- The protocol's technical support level is at $2.20, with a potential price recovery to $3.20 and $4.20 if this support holds.
- NEAR's advancements in scalability and user-oriented infrastructure make it attractive to developers and investors, keeping it competitive in the Layer-1 blockchain space.
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